The New York Stock Exchange seems to want to take the initiative Wednesday before the opening, pending the conclusions of the US central bank scheduled for the day.
New York indices are in the green before the opening. Depending on the futures contracts, the S&P 500 increased by 0.45%%, to 3,410.25 points, and the Nasdaq takes 0.17%, to 11,470.75 points, while the Dow Jones rose 0.46% to 28,035 points.
European markets were for their part in the red. the CAC 40 in Paris fell 0.14%, to 5,060.84 points. In London on FTSE 100 loses 0.20%, to 6,093.14 points. At the Frankfurt Stock Exchange, the DAX is down slightly by 0.05% to 13,210.41 points.
“It is not certain that the event of the day that constitutes the meeting of the American central bank causes a major stir,” writes Christopher Dembik, head of economic research at Saxo Bank.
The Fed’s monetary committee began its discussions on Tuesday morning, and will end them at midday on Wednesday. A press release will then be published.
No change in monetary policy is expected by market participants who will focus on the press conference of Fed President Jerome Powell at 12:30 pm.
They expect a confirmation of an accommodating monetary policy for a long time and will mainly scrutinize the forecasts for the world’s largest economy until 2023.
“Last meeting before the US presidential elections, the Fed chairman should give a cautious speech on the strength of the recovery, especially given the failure of the vote on the support plan in Congress, but could leave the door open for a policy even more accommodating in the coming months, thanks in particular to its new reading of its mandate, ”according to Aurel BGC experts.
“For many investors, everything has already been said in Jackson Hole, especially regarding inflation. The updating of the economic forecasts of the issuing body will however have to be watched, in particular the expectations concerning the evolution of the unemployment rate, ”observes Mr. Dembik for his part.
At this annual gathering of central bankers from around the world at the end of August, Fed boss Jerome Powell explained that inflation above the 2% target could be tolerated for a period of time without causing an automatic rate hike. ‘interest.
For a month and a half, negotiations on new financial assistance from the federal government to pull the world’s largest economy out of the crisis have been stalling in Congress.
Major Asian stock markets were cautious on Wednesday, awaiting the outcome of a US Federal Reserve (Fed) monetary meeting later today.
The flagship index of the Tokyo Stock Exchange, the Nikkei, ended on a 0.09% mini rise to 23,475.53 points and the index expanded Topix took 0.21% to 1,644.35 points.
Investors in Tokyo have greeted with relative indifference the unsurprising appointment of Yoshihide Suga as Japan’s new prime minister after a vote in parliament.
Mr Suga, 71, was a staunch lieutenant to outgoing Prime Minister Shinzo Abe, who chose to step down due to health concerns.
But beyond promising political continuity, the markets especially hope that Mr. Suga “will insist in favor of structural reforms”, commented Hideyuki Ishiguro, strategist at Daiwa Securities.
The index Hang Seng of the Hong Kong Stock Exchange stagnated at 24,725.63 points, while in mainland China the composite index of Shanghai dropped 0.36% to 3,283.92 points and that of Shenzhen 0.91% to 2,185.22 points.
The oil worn by Sally
Oil prices continued to advance on Wednesday, following the previous day’s wake, aided by supply disruptions in the Gulf of Mexico caused by Hurricane Sally and before the EIA released the stock status of gross in the United States.
At around 9:25 a.m. GMT (11:25 a.m. in Paris), a barrel of Brent from the North Sea for delivery in November was worth $ 41.51 in London, up 2.42% from Tuesday’s close.
In New York, the US barrel of WTI for October gained 2.61% to 39.28 dollars.
The rise in the two benchmark prices is linked to “the disruptions, or even closures, of certain oil installations in the Gulf of Mexico” before Hurricane Sally hit, explained Avtar Sandu, analyst at Phillip Futures.
The hurricane intensified on Wednesday as it approached the coast of the southeastern United States, just two weeks after the passage of Laura, one of the most violent to ever hit the region.
According to the latest National Hurricane Center (NHC) bulletin, Sally, with winds up to 160 km / h, was raised to Category 2, on a scale that has 5.
JBC experts estimate that around 27% of the area’s black gold production capacity was at a standstill.